Chinese company Bids Spanish Airport for only 10,000 euros

Spain’s abandoned airport, Ciudad Real Airport, has found a potential buyer—a Chinese company for just 10,000 euros ($10,850).

The Chinese company Tzaneen International is the only bidder so far for the airport. Other bidders can still try to buy the facility, located in a sparsely populated area 125 miles south of the Spanish capital, if they make an offer of at least 28 million euros, or 70 percent of the airport’s estimated value, within 20 working days,

Tzaneen said it plans to turn the so-called “ghost airport” into a European hub for Chinese companies. It also aims to buy additional land and invest in buildings and equipment as part of its cargo plan, which expected to cost between 60 million and 100 million euros.

Spain granted approval in 2006 for the privately-owned airport with a 4,000-meter (2.5 mile) runway originally named after the famous literary figure Don Quixote. Ciudad Real sought creditor protection in 2009 following the global economic crisis and closed in 2012 after just four years of operation.